Isis Pharmaceuticals Inc.
ISIS, +3.31%
is forecast to post a loss of 12 cents a share in the first-quarter, according to analysts surveyed by FactSet Research.

After Friday's closing bell, FedEx Corp.
FDX, +0.09%
cut its fiscal fourth-quarter earnings forecast, citing a spike in fuel costs. The company is now projecting earnings for the period ending May 31 of $1.45 to $1.50 a share, down from a previous outlook of $1.60 to $1.80 a share. On average, analysts surveyed by Thomson Reuters predict fourth-quarter earnings of $1.69 a share. Fuel expenses jumped $100 million, or 7%, since the company made its initial forecast, and have outpaced fuel surcharges, FedEx said. See full story

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E-Trade Financial Corp.
ETFC, -0.77%
said it decided in April to exit the retail mortgage origination business, its last remaining loan origination channel, according to a Securities and Exchange Commission filing. The company said it will partner with a third party company to provide customers access to real estate loans after it exits the business.

Fairchild Semiconductor International
FCS, -0.20%
said it named President and Chief Executive Officer Mark Thompson as chairman of the board. The energy-efficiency products supplier also named Laurenz Schmidt as chief technology officer.

Pitney Bowes Inc.
PBI, +2.30%
and its subsidiaries had their corporate credit ratings cut to A from A+ by Standard & Poor's. "The downgrade reflects our expectation that strategic growth and shareholder initiatives will continue at levels that are likely to preclude the company from sustaining leverage at a level more consistent with the previous rating," said Molly Toll-Reed, an S&P credit analyst.

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